Problem: For how many integer values of $n$ between 1 and 120 inclusive does the decimal representation of $\frac{n}{120}$ terminate?
Explanation: The decimal representation of a simplified fraction terminates if and only if the denominator is divisible by no primes other than 2 and 5. The prime factorization of $120$ is $2^3 \cdot 5 \cdot 3$. For the fraction to simplify to having only the primes $2$ and $5$ in the denominator, there must be a factor of $3$ in the numerator. There are $\left\lfloor \frac{120-1}{3} \right\rfloor+1=40$ multiples of $3$ between $1$ and $120$, so there are $\boxed{40}$ integers values for $n$.